Boost To Atmanirbhar Bharat: Domestic, Foreign Firms Line Up to Locally Manufacture Solar EquipmentSolar panels in Ladakh (Representative Image) (Photo by Allison Joyce/Getty Images)

In a big boost to government's 'Aatmanirbhar Bharat' campaign, several domestic and foreign companies have expressed interest in manufacturing solar equipment in the country, reports Indian Express.

According to the report, the Renewable Energy Ministry has received proposals over the last couple of months from several companies for more than 10 giga watts (GW) of fresh solar equipment manufacturing.

The proposals for local manufacturing of solar equipment include those from the US-based First Solar, Gurgaon-based Renew Power, Kolkata-based Vikram Solar and the Delhi-headquartered Waaree Energies.

While the Vikram Solar is planning to set up a 3 GW solar equipment facility in the country, ReNew Power and Waree Energies are planning to establish 2 GW and 3 GW facilities respectively.

US-based First Solar has also applied to the ministry for a capacity of around 2.4 GW.

It should be noted that new proposals are in addition to the capacity to be set up by Adani Green Energy and Azure Power through their manufacturing-linked agreements with the state-owned Solar Energy Corporation of India.

The development reportedly comes amid the measures initiated by the government to slap additional duties on imports across sectors, including solar power.

The government has also proposed a 5 per cent interest subvention scheme for domestic manufacturing of the critical components of solar panels such as ingots, wafers and cells. The scheme is under the consideration of the Finance Ministry.

Besides, a proposal to designate manufacturing zones for solar manufacturing was also being considered by the Power Ministry.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement